| 1 | 11/13/2003 | BVLaw |
Estate of Cook v. Commissioner
At issue is the classification of a lottery prize issued in annual payments as a private annuity, thereby being valued using annuity tables (by the Tax Court) and thus without discounts.
United States Court of Appeals 5th Circuit US, Action: Estate and Gift Taxation
Full Text of Court Cases (5,081 words)
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| 2 | 12/19/2005 | BVLaw |
Davis v. United States
Court assesses whether fair market value of non-marketable annuity varies from present value of IRC annuity tables...
United States District Court New Hampshire US, Action: Estate and Gift Taxation
Full Text of Court Cases (3,938 words)
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| 3 | 1/28/2009 | BVLaw |
Negron v. U.S.
Sixth Circuit joins majority of federal courts in finding that IRS annuity tables are appropriate when valuing non-assignable lottery payments for estate tax purposes.
United States Court of Appeals 6th Circuit US, Action: Federal Taxation
Full Text of Court Cases (4,718 words)
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| 4 | 6/13/2007 | BVLaw |
Davis v. United States
Second Circuit finds that although IRC annuity tables do not account for lack of marketability of lottery payments, the discount is not so substantial as to warrant departure therefrom.
United States District Court New Hampshire, Action: Estate and Gift Taxation
Full Text of Court Cases (3,800 words)
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| 5 | 3/8/2001 | BVLaw |
Estate of Gribauskas v. Commissoner
At issue is whether an interest held at death by Paul C. Gribauskas (decedent), in 18 annual installments of a lottery prize, must be valued for estate tax purposes.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (8,883 words)
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| 6 | 4/26/2005 | BVLaw |
Estate of Donovan v. U.S.
Federal district court (Mass.) finds that IRS annuity tables do not place "unreasonable or unrealistic" value on non-assignable lottery payments for purposes of assessing estate tax.
United States District Court Massachusetts US, Action: Federal Taxation
Full Text of Court Cases (5,666 words)
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| 7 | 7/29/1998 | BVLaw |
Estate of Thomas J. Shackleford (Shackleford I) v. United States of America
The U.S. District Court for the Eastern District of California considered whether unreceived lottery payments should be valued as a commercial annuity or as a private annuity including deviations from the annuity tables for lack of marketabilty. The cour...
United States District Court California US, Action: Estate and Gift Taxation
Full Text of Court Cases (4,264 words)
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| 8 | 4/28/2009 | BVLaw |
Lottery Case & Effect of Transfer Restrictions on Valuing Annuities
Sixth Circuit joins majority of federal courts in finding that IRS annuity tables are appropriate when valuing non-assignable lottery payments for estate tax purposes.
United States Court of Appeals
Court Case Digests (1,224 words)
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| 9 | 7/9/2001 | BVLaw |
Estate of Cook v. Commissioner
At issue is the value at decedent's date of death of her interest in a limited partnership.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (3,051 words)
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| 10 | 8/28/2007 | BVLaw |
Two New Lottery Cases: The Odds of Discounting From Annuity Tables Decrease
Sixth Circuit finds that government annuity tables do not accurately reflect fair market value of lottery payments, and continues case for expert evidence. Second Circuit finds that although IRC annuity tables do not account for lack of marketability of...
United States District Court
Court Case Digests (1,254 words)
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| 11 | 7/28/2006 | BVLaw |
Lottery Winner Attempts Second Win on Discounted Present Value of Annuity
Court assesses whether fair market value of non-marketable annuity varies from present value of IRC annuity tables.
United States District Court
Court Case Digests (900 words)
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| 12 | 3/9/1998 | BVLaw |
Estate of McLendon v. Commissioner
Issue was whether McLendon was sufficiently close to death on March 5, 1986, to require him to depart from the actuarial tables in valuing a remainder interest and related annuity.
United States Court of Appeals 5th Circuit US, Action: Estate and Gift Taxation
Full Text of Court Cases (5,463 words)
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| 13 | 11/13/2003 | BVLaw |
Fifth Circuit Considered the Valuation of Lottery Payments
The U.S. Court of Appeals considered whether deviation from the annuity tables in Sec. 7520 was warranted in the valuation of a lottery prize. The estate argued that deviation from the tables was warranted because the tables failed to consider the non-mar...
Court Case Digests (538 words)
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| 14 | 8/26/2003 | BVLaw |
Value of Lotto Payments Includes Discount for Lack of Marketability
The U.S. Court of Appeals for the Second Circuit reversed the Tax Court's valuation of payments from the Connecticut Lotto. The estate valued the payments based on the gray market, inclusive of a lack of marketability discount. The Tax Court ruled that th...
Court Case Digests (420 words)
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| 14 | 12/28/1995 | BVLaw |
Estate of Gordon B. McLendon (McLenson I) v. CIR
The U.S .Court of Appeals for the Fifth Circuit concluded that the Tax Court erred when it valued interests in a partnership as partnership interests rather than assignee interests. It determined that state law established the objective criteria for trea...
United States Court of Appeals 5th Circuit US, Action: Estate and Gift Taxation
Full Text of Court Cases (6,800 words)
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| 16 | 6/2/2007 | BVLaw |
Negron v. United States
Sixth Circuit finds that government annuity tables do not accurately reflect fair market value of lottery payments, and continues case for expert evidence.
United States District Court Ohio US, Action: Estate and Gift Taxation
Full Text of Court Cases (2,065 words)
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| 17 | 6/17/1998 | BVLaw |
Estate of Suzanne W. Cullison v. CIR
The Tax Court determined that the decedent did not receive adequate and full consideration when she transferred real property to her children in exchange for a private annuity. The court determined that the taxpayer's accountant provided them with faulty...
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (6,149 words)
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| 18 | 8/28/2001 | BVLaw |
Shackleford v. United States
At issue is whether a statutory anti-assignment restriction on lottery payments justifies departure from the Department of Treasury's annuity tables when determining the asset's present value.
United States Court of Appeals 9th Circuit US, Action: Estate and Gift Taxation
Full Text of Court Cases (2,343 words)
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| 19 | 10/28/2001 | BVLaw |
Tax Court values partnership interest in future lottery payments
This estate tax case concerns 19 annual installment payments of lottery winnings to a limited partnership in which the decedent held a 2% general partnership interest and a 48% limited partn...
United States Tax Court
Court Case Digests (553 words)
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| 20 | 8/6/1999 | BVLaw |
Future Lottery Payments Valued by Reference to the Gray Market
The district court concluded that the decedent's remaining lottery payments should be valued by reference to the "gray market" even though the payments bore an absolute restriction on their transfer, instead of by reference to the annuity tables in 26 USC...
United States District Court
Court Case Digests (399 words)
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